Publication: Springboarding on IoE for Future Proofing Halal Industry
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Date
2022
Authors
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Journal ISSN
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Publisher
Fakulti Ekonomi dan Muamalat, Universiti Sains Islam Malaysia
Abstract
Halal Industry has expanded beyond food and beverage industry to encompass growing industries such as pharmaceutical, cosmetics, consumer goods, fashion, tourism, media and entertainment plus other services. Drivers of this economy include a third of the world population, comprising of young affluent tech savvy Muslims, and non-Muslims who are passionate about green economy. The increased interest in halal is brought on by the whole philosophy behind halal production. Specifically, halal is a new paradigm to global issues such as food safety, environmental awareness, economic sustainability and animal welfare. Integrating the different dimensions of halal economy for future proofing thus needs a new approach which can be afforded by the application of Internet of Everything (IoE). The IoE concept is based on the idea of all-round connectivity, intelligence and cognition. It means that intelligent internet connections are not restricted by Internet of Things (IoT). The IoE way of life depicts the world in which a multitude of devices, machines and conventional objects are perpetually interacting, giving them comprehensive networking opportunities, thus making them smarter. IoE is the connections between people, things, data and processes combined into a common interrelated system, the goal of which is to improve experiences and decision making. A halal ecosystem that is fortified with the implementation of IoE will ensure that halal stakeholders are abreast with present and future situations and are enabled to make timely and more effective decisions thereby future proofing their businesses and ensure sustainability of the halal industry and preserve the societal well-being.
Description
e-Proceedings of The 10th Islamic Banking, Accounting and Finance International Conference 2022 (iBAF2022): “Future-Proofing for Business Excellence Through Islamic Banking, Accounting and Finance”/ Editors: Norhaziah Nawai, Khairil Faizal Khairi, Suhaila Abdul Hamid, Muhamad Azrin Nazri, Nur Ainna Ramli, Sumaiyah Abd Aziz, Mohd Adha Ibrahim, Syadiyah Abdul Shukor.
13th-14th September 2022 (Virtual Conference)
Organized by: Faculty of Economics and Muamalat, Universiti Sains Islam Malaysia
Keywords
Halal; Internet of Everything; IoE; Future Proofing; Halal Industry
Citation
Nawai, N., Khairi, K. F., Abdul Hamid, S., Nazri, M. A., Ramli, N. A., Abd Aziz, S., Ibrahim, M. A., & Abdul Shukor, S. (Eds.). (2022). e-Proceedings of The 10th Islamic Banking, Accounting and Finance International Conference 2022 (iBAF2022) : “Future-Proofing for Business Excellence Through Islamic Banking, Accounting and Finance.” Universiti Sains Islam Malaysia. https://fem.usim.edu.my/ibaf2022-proceeding/